Global methanol capacity is poised to see considerable growth over the next five years, potentially increasing from 158.62mtpa in 2020 to 282.52mtpa in 2025, registering total growth of 78%.
GlobalData’s latest report, ‘Global Methanol Industry Outlook to 2025 – Capacity and Capital Expenditure Forecasts with Details of All Active and Planned plants,’ states that around 123 planned and announced plants are slated to come online primarily in FSU and Asia.
The former Soviet Union (FSU) has 30 planned and announced projects, of which Russia contributes 30.20mtpa by 2025. The country is expected to spend a capital expenditure (CapEx) of $19.51bn. Major capacity additions will be from an announced project, Oteko Krasnodar Methanol Plant.
Asia has 28 planned and announced projects, of which China contributes a total of 22.88mtpa by 2025. The country is expected to spend a CapEx of $9.01bn. Major capacity additions will be from a planned project, Ningxia Baofeng Energy Group Yinchuan Methanol Plant 3.
In the Middle East, Iran has 24 planned and announced projects project with the capacity additions of about 26.79mtpa by 2025. The country is expected to spend a total of $8.35bn by 2025. Major capacity additions will be from a planned project, Mahan Chemical Zagros Petrochemical Eslamabad-e-Gharb Methanol Plant.
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Oteko, Tianjin Bohai Chemical Industry Co Ltd and China Petrochemical Corp will be the top three companies globally in terms of planned and announced capacity additions over the upcoming years.